There was another slight increase in auction volumes across the capital cities for the week ending September 15, as clearance rates remained strong.
It was more of the same for the auction markets of Sydney and Melbourne across the past week, with the latest data from CoreLogic indicating a further rise in volumes while clearance rates held steady.
The number of homes taken to auction across the combined capital cities increased to 1,633 this week returning a preliminary clearance rate of 75.7 per cent.
There were 1,533 homes taken to auction the previous week, returning a final clearance rate of 72.3 per cent.
CoreLogic believes the past week's final clearance rate is likely to stay about 70 per cent for the fifth consecutive week.
Over the same week last year, auction activity was higher with 1,983 homes taken to auction, returning a significantly lower clearance rate of 51.8 per cent.
Melbourne
Melbourne was host to 824 auctions this week, returning a preliminary clearance rate of 75.7 per cent.
It is the 8th consecutive week where the cities clearance rate has held above 70.0 per cent.
In comparison, last week saw 765 homes taken to auction and a final clearance rate of 74.0 per cent was recorded.
Ray White Victoria/Tasmania Chief Auctioneer Matt Condon said buyer confidence continued to remain strong in the state.
"Inspections, open homes and crowd sizes were very healthy on Saturday," he said.
"Based on Ray White's preliminary data, there has been a spike in the number of active bidders per auction across the past week.
"On the ground, you could also notice a trend in keen buyers placing their opening bid higher than expected."
Sydney
Sydney recorded a preliminary clearance rate of 80.3 per cent across 580 auctions this week.
Ryde was the best-performing sub-region with a clearance rate of 92.6 per cent, while the City and Inner South, Inner West and Northern Beaches all came in above 89 per cent.
The final results from the previous weeks indicated the city had a clearance rate of 75.7 from 528 auctions.
One year ago, 669 auctions were held across Sydney returning a final clearance rate of 48.6 per cent.
Real Estate Institute of NSW President Leanne Pilkington said she expected clearance rates to remain high in the state.
"There has been a small increase in auction numbers over the last week, but they are still significantly down on the same time last year," she said.
"As a result we expect clearance rates to remain strong.”
Brisbane and smaller markets
Adelaide, Canberra and Perth saw lower auction volumes week-on-week while Brisbane and Tasmania saw an increase in the number of homes taken to auction over the week.
Brisbane's Apollo Auctions had an average attendance of 21.7 people, as well as 3.6 registered bidders.
Auctioneer Justin Nickerson said a few stand-out auctions had recorded double-figure numbers of registered bidders.
"Throughout the year, we have seen individual properties proving popular with buyers and returning out of line results," he said.
"The active bidding percentage and attendance also remained consistent, as they have been for a number of weeks."
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